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Vijaya Bank Q3 net profit surges 80% to Rs 143 crore; NPA provisions jump

The bank's total income also rose to Rs 4,106.42 crore during the period

Press Trust of India  |  New Delhi 

Vijaya Bank

State-owned Wednesday reported a 80.2 per cent jump in its net profit to Rs 143.38 crore for the December 2018 quarter.

The public sector lender had posted a net profit of Rs 79.56 crore in the corresponding quarter of the previous fiscal.

The bank's total income also rose to Rs 4,106.42 crore during the period, compared with Rs 3,450.81 crore a year ago, said in a regulatory filing.

The bank's gross non-performing assets (NPAs) declined marginally to 6.14 per cent, against 6.17 per cent in the same quarter of last fiscal.

However, net NPAs rose to 4.08 per cent during October-December 2018, compared with 3.99 per cent in the year-ago period.

During the quarter, the provision for bad loans nearly doubled to Rs 582.22 crore from Rs 333.26 crore a year ago.

This is the second last quarterly result of the ahead of its amalgamation with beginning April 1,2019.

The bank's shares Wednesday fell by Rs 1.20, or 2.65 per cent, to close at Rs 44.15 apiece on the BSE.

First Published: Wed, January 23 2019. 15:45 IST
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